‘Shark Tank’: Myostorm snub Kevin O'Leary, seal deal with Lori Greiner despite having an identical offer from him
‘Shark Tank’ shark, Kevin O’Leary or Mr. Wonderful as he likes to call himself, was snubbed real hard on Episode 5 of the show which aired on October 27. Entrepreneurs Jona Diperi, Shaquille Walker, and Jared Ward came on the show hoping to secure a deal from one of the sharks for their electric massage ball company- Myostorm. After explaining their product and demonstrating its unique properties of providing heat with vibrations, they ended up reeling in all the four sharks. They were seeking $150K for a 10% stake.
Mark Cuban ended up putting a time-bound deal on them, where he said that if the entrepreneurs decide to hear the pitches of other sharks, then his deal was off the table. The entrepreneurs smartly decided to take a risk and went ahead with hearing the other sharks’ offers. Kevin and fellow shark Lori Greiner put forward the same deal of- $150K for a 5% stake + a royalty of $1 per ball sold until $500K is recouped. Matt Higgins of ‘Miami Dolphins’ too tried to get a piece of the action and offered the trio what they were seeking- $150K for a 10% stake. After some deliberation, the entrepreneur trio decided to close the deal with Lori.
All the sharks were surprised by their decision and ask why they chose Lori over Kevin, considering both gave the same offers and Kevin put forward his before Lori’s. The trio explains that they liked Lori’s suggestions about their product and her insights into the pricing of the product and not to mention her strong network so that according to them made Lori a perfect fit for them. Kevin looked visibly disappointed, while Matt joked about throwing the ball at them for their decision.
Fans felt that the entrepreneurs made the right decision by picking Lori as their investor. A fan tweeted, “That's how he's ALWAYS done it in the #SharkTank . And for the "upset" of the night, @LoriGreiner sealed it. She had the cost angle down pat. #SharkTank”. Fellow shark, Barbara Corcoran wrote, “I’m with @lorigreiner on this one! She knows the customer price points well, what do you think? #SharkTank”.
Do you think the Myostorm team made the right decision by picking Lori instead of Kevin? Let us know. New episodes of 'Shark Tank' season 11 air at 9 p.m. ET on ABC.
